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Advanced Gear Shifter System Market Analysis, Market Size, Leading Players, Trends, And Forecast To 2033
Advanced Gear Shifter System Market Analysis
As per the report, the advanced gear shifter system market size has grown strongly in recent years. It will grow from $12.51 billion in 2023 to $13.55 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The advanced gear shifter system market size is expected to see strong growth in the next few years. It will grow to $18.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
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Luxury Vehicle Sales Propel Advanced Gear Shifter System Market
The increasing sales of luxury vehicles are expected to propel the growth of the advanced gear shifter system market going forward. Luxury vehicles are automobiles that offer premium features, advanced technology, superior comfort, and high-quality materials, catering to discerning customers who prioritize luxury, performance, and prestige. The increase in the sale of luxury vehicles is due to a rise in desire for status and prestige, luxury lifestyle trends, strong brand image and marketing, and access to financing options, including leasing and financing programs. Advanced gear shifter systems are commonly used in luxury vehicles to enhance the driving experience and provide added convenience and sophistication, which play a crucial role in improving the driving experience in luxury vehicles, offering smooth, precise, and customizable gear shifts along with additional features that add convenience, performance, and luxury. For instance, in April 2024, according to Tesla Inc., a US-based automobile company, production and delivery totals for the model S/X and E/Y (luxury electric vehicles) increased from $24.32 billion in 2023 compared to $21.454 billion in 2022, an increase of 37.24% year-over-year. Therefore, the increasing sales of mid-size and luxury vehicles are driving the growth of the advanced gear shifter system.
Innovations In Advanced Gear Shifter Systems
Major companies operating in the advanced gear shifter system market are developing products such as electronic clutch control systems to enhance vehicle performance and support integrating advanced driver-assistance systems (ADAS) in modern vehicles. Electronic clutch control systems are advanced automotive technologies that use electronic mechanisms to manage the engagement and disengagement of the vehicle's clutch rather than relying on traditional mechanical or hydraulic systems. For instance, in November 2023, Honda Motor Co. Ltd, a Japan-based automobile company, launched the first electronic clutch control system. The system automatically controls the clutch of the manual motorcycle transmission based on various sensor inputs such as vehicle/engine speed, throttle position, and gear position. Honda demonstrates the potential of this technology to improve vehicle dynamics, support advanced features, and align with the automotive industry's shift toward automation and efficiency by integrating ECCS into its motorcycles.
The advanced gear shifter system market covered in this report is segmented -
1) By Component: Solenoid Actuator, Electronic Control Unit (ECU), CAN Module, Other Components
2) By Technology: Automatic Shifter, Shift-By-Wire (SBW)
3) By Vehicle Type: Light Duty Vehicle, Commercial Vehicle, Electric Vehicle, Other Vehicle Types
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Major companies operating in the advanced gear shifter system market are TOKAI RIKA CO LTD, Robert Bosch GmbH, Varroc Group, ZF Friedrichshafen AG, Denso Corporation, Atsumitec Co Ltd, Magneti Marelli S.p.A., Kostal Group, Ficosa Internacional SA, Remsons Industries Ltd., Eissmann Group Automotive, Ficosa, M&T Allied Technologies Co. Ltd., Fujikiko Co. Ltd., Kongsberg Automotive GmbH, Dura Automotive Systems Inc., Stoneridge, GHSP, Kapsch Components, Delta Kogyo Co. Ltd., Lumax Industries, SL Corporation, Sila Group, Leopold Kostal GmbH & Co. KG, Orscheln Products, Jopp Technology Co. Ltd.
Contents of the report:
1. Executive Summary
2. Advanced Gear Shifter System Market Report Structure
3. Advanced Gear Shifter System Market Trends And Strategies
4. Advanced Gear Shifter System Market - Macro Economic Scenario
5. Advanced Gear Shifter System Market Size And Growth
…..
27. Advanced Gear Shifter System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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